Nora Pykkonen, who purchased Echo Mountain Resort in 2012 with plans to develop a private ski racing training facility, has filed for bankruptcy, the Denver Post reported today. Unable to repay the creditor who financed her original purchase, Pykkonen last Friday filed for chapter 11 protection, citing $1.45 million in debt to the resort's top 20 creditors, consisting mainly of $100,000 to $200,000 loans. The mother and co-founder of the Seattle-based Slalom Consulting management firm was pondering a move to Vail in 2012 to foster her family's avid pursuit of ski racing. Instead, she bought the 226-acre ski area in Clear Creek County and converted it into a private, membership-only training ground for school-age ski racers. She hired Olympic-level coaches and promised $5 million in upgrades. Ski clubs and university teams from across the country booked time and lanes. She sold memberships in her new Front Range Ski Club for $5,000. However, fees from race training were not enough to pay the bills.
